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Inland Real Estate Corp. Seeks Listing on the NYSE

Inland Real Estate Corp., which sponsors several private REITs, is seeking a listing on the New York Stock Exchange. The retail REIT owns 138 properties totaling 12 million sq. ft. in the Midwest.

"Listing is a major component of our overall strategy. We have patiently built our asset base and believe that the market will now recognize our efforts," says Inland CEO Robert Parks. He adds that Inland plans to hire an advisor to assist in evaluating a listing, a process that may take several months to complete.

Inland is one of the "Big Four" unlisted REITs. The other three are Wells Real Estate Funds, CNL and WP Carey. The Inland REIT that is seeking a listing was launched in the mid-1990s. Thus its "list or liquidate" provision may have expired in 2004, which could explain why the REIT is seeking to go public.

Even if this is the case, now may be an excellent time to go public as this year has already seen more than 20 IPOs — far more than the same period last year.

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